If you took a distribution from a Fidelity retirement account (such as a Traditional or Roth IRA), you may be able to import your 1099-R information directly into TurboTax®.
Please note that the ability to import 1099-R information is not available for institutional retirement accounts (such as 401(k) or 403(b) plans) or insurance contracts distributed through Fidelity. Such tax information must be manually entered into TurboTax®.
When this tax information will be available
All direct imports of information should be conducted only when you have received the 1099-R from Fidelity by mail or eDelivery.
To find out when your form will be available, please see Fidelity's tax form mailing schedule.
How to import your information
Once you receive your 1099-R statement by mail or through eDelivery, have it available to verify the imported information. Follow these simple steps:
- Under Retirement Plans and Social Security in TurboTax®, choose IRA, 401(k), Pension Plan Withdrawals (1099-R). When asked where to import information from, select Fidelity Investments and enter the same information that you use to log on to Fidelity.com. The tax information available for each of the accounts associated with your SSN should appear.
- Review the account numbers listed next to each tax form. The information from these tax forms is available for you to import from Fidelity. Nonretirement and retirement accounts will be included in this list, as well as accounts that you have access to on Fidelity.com using your SSN (or username) and password.
- Select the IRAs from which you wish to import tax information and follow the instructions in TurboTax®.
Once imported, TurboTax® products should then help you:
- Report the information on certain sections of the federal income tax return(s) you prepare automatically using TurboTax®, or
- Determine how the information should be reported on the federal income tax return(s) you prepare using TurboTax®.
- Repeat this process to import Fidelity account tax information from accounts that are not linked to your SSN.
Before filing your tax return, compare all the information you imported and reported on your tax return carefully against the official tax forms which Fidelity made available to you via eDelivery or by mail. Make sure all items on those forms have been appropriately accounted for and adjusted as necessary based on your individual tax situation.
About the imported data
This import is not a substitute for your Form(s) 1099-R tax statement. The import containing your tax information is based on information known to Fidelity, or, in some instances, information that you have provided to Fidelity. In certain instances, the imported data may not reflect all of the information needed for tax reporting. You may be required to modify, delete, or otherwise act upon some or all of the information that you import from Fidelity. For example, certain information will be imported but will require that you choose how it should be accounted for on your federal income tax return.
The tax information import function downloads information from Fidelity into your TurboTax® return and does not always place that information directly into the federal income tax return. It is essential that you complete the review processes (in Step 3 above) contained within TurboTax® in their entireties to ensure that you report all Fidelity information correctly to the IRS.
Additionally, be sure to verify the information that you import against your own records to ensure accurate and complete reporting of all required tax information on your federal income tax return. Although Fidelity is providing the tax information import as a courtesy service, Fidelity does not guarantee that the information provided is entirely sufficient or accurate for tax reporting purposes, and Fidelity is not liable for your reliance on, and use of, the import feature.
If you have specific questions regarding the preparation of your tax return, contact your tax advisor or the IRS.
More help understanding your statement information
To learn more about the information Fidelity provides on Form 1099-R for individual retirement accounts, annuity and life insurance products, consult the applicable tax guides:
You may also refer to the IRS Instructions on the back of 1099-R for additional information regarding this tax form. These instructions are also available by clicking on "Info," when viewing your form online.
Fidelity reports the gross distribution amount as well as the amount of any federal or state withholding tax. Fidelity does not report or calculate the taxable amount of the distribution. Refer to IRS Publications 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans), and 571, Tax-Sheltered Annuity Plans (403(b) Plans), to help calculate the taxable amount of your distribution. Please consult your tax advisor for more information.